Yajur Fibres Ltd IPO

About Yajur Fibres Ltd

Yajur Fibres Limited (the Company or the Issuer) was incorporated as `Shineup Investments Limited', a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated August 07, 1980 issued by the Registrar of Companies, West Bengal. The certificate of commencement of business was issued to our Company on September 15, 1980 by the Registrar of Companies, West Bengal. Subsequently, the name of our Company was changed to `Shineup Fibres Limited' and consequently a fresh certificate of incorporation dated June 18, 1991 was issued by the Assistant Registrar of Companies, West Bengal at Kolkata. Subsequently, pursuant to resolutions passed by our Board of Directors in their meeting held on March 10, 2008 and by our Shareholders in the extra-ordinary general meeting held on March 13, 2008, the name of our Company was changed to `Ambica Capital Ventures Limited' and a fresh certificate of incorporation dated April 24, 2008 was issued by the Registrar of Companies, West Bengal at Kolkata. Subsequently, pursuant to resolutions passed by our Board of Directors in their meeting held on December 30, 2020 and by our Shareholders in the extra-ordinary general meeting held on January 29, 2021 the name of our Company was changed to `Yajur Fibres Limited' and a fresh certificate of incorporation dated March 11, 2021 was issued by the Registrar of Companies, West Bengal at Kolkata.

The bast fibres industry in India plays a pivotal role in the textile and agricultural sectors. Bast fibres, derived from the inner bark of plants, are known for their strength, durability, and versatility. The most common bast fibres in India are jute and hemp, with jute being the most significant. These fibres are used in textiles, packaging, and eco-friendly products. Other examples of bast fibres include flax, used for linen fabric, ramie, which is known for its strength and durability, and kenaf, often used in making paper and bio-composites. Bast fibres are increasingly sought after for their sustainability; they are biodegradable, renewable, and made mostly of cellulose, which makes them an attractive alternative to synthetic materials. The cultivation and extraction of these fibres depend on agricultural practices, ensuring high-quality fibres for modern applications.

Yajur Fibres Limited operates a bast fibre cottonising unit in India. Situated in Howrah, our Company is a part of the well-recognised conglomerate, The Kankaria Group. The group has rich experience of over 80 years in the Jute Industry. Our group, in the year 2006, acquired the manufacturing operations of cotton and cotton blended yarns into Yajur Bast Fibres Limited (formerly known as M.F.L Corporation Ltd). Subsequently, we have started manufacturing of premium cottonised bast fibres, including flax (linen), jute, and hemp in the year 2017-18. Yajur Bast Fibres Limited was amalgamated into our Company pursuant to the Scheme of Amalgamation under Section 230 to 232 of the Companies Act, 2013, sanctioned by the National Company Law Tribunal, Kolkata bench, vide order dated January 12, 2023 w.e.f. appointed date of April 1, 2021. Our Company specializes in producing premium cottonised bast fibres, including flax (linen), jute, and hemp.

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